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    • Breaking News
    Feb 29, 2024
    • Birkenstock edged up 0.3% to $52.12 after the newly listed German sandals company reported higher revenue and narrowed its loss in the holiday quarter. 

      Revenue in the fourth quarter increased 22% to Є302.9 million from Є248.5 million, net loss shrank to Є7.15 million from Є9.19 million, and diluted loss per share fell to 4euro cents from 5 euro cents a year ago. 
      • Best Buy increased 4.8% to $83.46 after the electronics retailer reported a smaller-than-expected decline in sales. 

        Revenue in the fiscal fourth quarter ending on February 3rd declined to $14.65 billion from $14.73 billion, net income fell to $460 million from $495 million, and diluted earnings per share dropped to $2.12 from $2.23 a year ago. 

        In the quarter, the company returned a total of $268 million to shareholders through dividends of $198 million and share repurchases of $70 million. 

        For the full year, the company returned a total of $1.1 billion to shareholders through dividends of $801 million and share repurchases of $340 million. 

        The company announced its board of directors approved a 2% increase in the regular quarterly dividend to $0.94 per share payable on April 11 to shareholders of record on March 21.

        The retailer guided fiscal 2025 earnings per share in the range of $5.75 to $6.20 and anticipated revenue between $41.3 billion and $42.6 billion.

        For the fiscal first quarter, Best Buy expects comparable sales to decline by approximately 5%, with a non-GAAP operating income rate of around 3.4%, matching the rate in the first quarter of fiscal year 2024. 
        • Salesforce inched up 0.5% to $301.36 after the customer relationship management software reported better-than-expected quarterly results but guided revenue growth of less than 9% in the current fiscal year. 

          Revenue in the fourth quarter increased 11% to $9.29 billion, net income swung to a profit of $1.44 billion from a loss of $98 million, and diluted earnings per share were $1.47 compared to a loss of 10 cents a year ago. 

          The company guided fiscal year 2025 first quarter revenue between $9.12 billion and $9.17 billion, and GAAP diluted earnings per share between $1.42 and $1.44. 

          For the full-year fiscal year 2025, the company estimated revenue between $37.7 billion and $38.0 billion, and GAAP diluted earnings per share between $6.07 and $6.15.   
          • Okta soared 24.5% to $108.50 after the identity software management company reported better-than-expected quarterly results and estimated higher-than-expected quarterly results. 

            Fourth quarter revenue increased 19% to $605 million, net loss shrank to $44 million from $153 million, and diluted loss per share decreased to 26 cents from 95 cents a year ago. 

            Net cash provided by operations in the quarter increased to $174 million, or 29% of total revenue, compared to net cash provided by operations of $76 million, or 15% of total revenue, in the quarter a year ago.  

            Free cash flow was $166 million, or 28% of total revenue, compared to $72 million, or 14% of total revenue, in the fourth quarter of fiscal 2023.
            • Feb 27, 2024
            • AutoZone rose 2% to $2,825.0 after the automotive parts retailer reported better-than-expected revenue and earnings in its fiscal second quarter. 

              Revenue in the fiscal second quarter rose 4.6% to $3.85 billion from $3.69 billion, net income increased to $515.03 million from $476.5 million, and diluted earnings per share advanced to $28.89 from $24.64 a year ago. 

              Same-store sales increased 3.0%, driven by a 0.3% increase in domestic sales and a 23.9% rise in sales at international locations. 

              AutoZone repurchased 84,000 shares of its common stock at an average price per share of $2,676, for a total of $223.8 million. 

              At the end of the fiscal second quarter ending on February 10, the company had $2.1 billion remaining under its current share repurchase authorization.

              During the quarter, AutoZone opened 19 new stores and closed three in the U.S., opened six new stores in Mexico, and opened four in Brazil, for a total of 26 net new stores. 

              As of February 10, the retailer had 6,332 stores in the U.S., 751 in Mexico, and 108 in Brazil, for a total store count of 7,191.
              • Lowe's Companies decreased 0.6% to $230.01 after the home improvement retailer reported better-than-expected fourth-quarter results. 

                Revenue in the fourth quarter declined to $18.6 billion from $22.4 billion, net income increased to $1.02 billion from $957 million, and diluted earnings per share rose to $1.77 from $1.58 a year ago. 

                Prior-year quarterly sales included approximately $1.4 billion from the additional 53rd week, as well as $958 million generated from the sale of its Canadian retail business. 

                Comparable sales for the quarter decreased 6.2% due to a slowdown in home renovation demand and unfavorable January winter weather, while pro-customer comparable sales were flat for the quarter. 

                The retailer also estimated full-year revenue in the current fiscal year to decline between $84 billion and $85 billion, from $86.4 billion in the fiscal year 2023. 

                During the quarter, the company repurchased approximately 1.9 million shares for $404 million, and it repurchased 29.9 million shares for $6.3 billion in the year. 

                The company also paid $633 million in dividends in the fourth quarter and $2.5 billion in dividends for the year. 

                In total, the company returned $8.9 billion to shareholders through share repurchases and dividends in the fiscal year 2023. 
                • Zoom Video Communications rose 9% to $68.80 after the online communication platform reported slightly better-than-expected quarterly revenue. 

                  Revenue in the fourth quarter decreased to $1.14 billion from $1.11 billion, net income swung to $298.8 million from a loss of $104 million, and diluted earnings per share were 95 cents compared to a loss of 36 cents. 

                  The company estimated total revenue in the first quarter at $1.125 billion, and revenue in constant currency is expected to be approximately $1.125 billion. 

                  Non-GAAP income from operations is expected to be between $410.0 million and $415.0 million. 

                  First quarter non-GAAP diluted earnings per share is expected to be between $1.18 and $1.20, with approximately 316 million non-GAAP weighted average shares outstanding.
                  • Norwegian Cruise Line soared 10% to $17.55 after the travel company reported wider-than-expected fourth-quarter results, but the company guided a strong 2024 outlook. 

                    Revenue in the fourth quarter increased to $1.98 billion from $1.52 billion, net loss shrank to $1106.5 million from $482.8 million, and diluted loss per share shrank to 25 cents from $1.14 a year ago. 

                    The company's cost-cutting initiatives were helped by a higher passenger count in the quarter. 

                    Gross cruise costs per capacity day were approximately $280 in the fourth quarter, compared to $311 last quarter. 

                    Adjusted net cruise costs, excluding fuel per capacity day, in the fourth quarter of 2023 were approximately $151, in line with the company's prior guidance.
                    • Feb 22, 2024
                    • Nvidia said revenue in the fourth quarter soared 265% from a year ago to $22.1 billion, driven by a surge in demand for artificial intelligence-driven applications. 

                      Revenue in the fourth quarter increased to $22.1 billion from $6.2 billion, net income soared 769% to $12.3 billion from $1.4 billion, and diluted earnings per share jumped to $4.93 from 57 cents a year ago. 

                      For the fiscal year, revenue jumped 126% to $60.9 billion, net income soared 581% to $29.7 billion from $4.93 billion, and diluted earnings per share advanced to $11.93 from $1.74 a year ago. 

                      Nvidia's blowout results boosted other semiconductor stocks, and ASML, AMD, TSMC, Intel, and Qualcomm jumped between 2% and 4%. 

                      Nvidia stock has jumped 40% so far this year and soared 225% in the last 52- weeks of trading. 
                      • Lucid Group declined 8.1% to $3.40 after the electric vehicle maker reported weaker-than-expected revenue in its latest quarter as losses widened. 

                        Revenue in the fourth quarter declined to $157.1 million from $257.7 million; net loss increased to $653.7 million from $472.6 million; and diluted loss per share expanded to 29 cents from 28 cents a year ago. 

                        The company produced 2,391 vehicles in the fourth quarter and 8,428 vehicles in 2023, meeting the higher end of 2023 annual production guidance of 8,000 to 8,500 vehicles. 

                        The company delivered 1,734 vehicles in the fourth quarter and 6,001 vehicles in 2023, up 37% compared to full-year 2022.